"A FAIR SPIN"

Evening Post, Issue 25, 30 January 1935, Page 10

"A FAIR SPIN"

CONCERN FOR FARMERS

GOVERNMENT'S POLICY

"MUST SECURE A LIVING"

(By Telecraph—Press Association.)

AUCKLAND, January 29,

The Government's policy to assist the farmer was reviewed by the Minister of Finance (the Bt. Hon. J. G." Coatea) at the opening of the Hclonsville Agricultural and Pastoral Association's show. He made special reference to the mortgage finance proposals.

' Mr. Coates- said that the farmer and his wife and children must secure their living, and the maintenance of his farm must be attended to. There were said'to*'be about 50,000 farmers who, if the bankruptcy'law were_ applied, would be made bankrupt. Was that a right position for the country to be int he asked. S,urely some formula could be arrived fit that would be acceptable to both patties. ' : y Mr., Coates said that Government securities had ..been brought down to low rates, pf" interest and local body securities were little.higher. Yet, for financing ■ the major! industry of the country, rates were still very high.

Referring to the healthy condition of the pig export trade, Mr. Coates paid a tribute to the foresight of the Governor-General, Lord Bledisloe, who, three years ago, had done much to promote interest in the industry. At that time only about 100,000cwt of ! porkers and baconers was exported, yet this year it was estimated that between 750,000 and 900,000cwt would beJexported.. When it was realised that l,ooo,ooocwt of porkers or baconers was equivalent to 3,000,000 exported , lambs, the public would'.appreciate ' how much the industry was worth to the Dominion. "Has New Zealand done right in arranging the quantity of meat exports to Great Britain!" Mr. Coates asked. "I say definitely that if the producers of the world had been allowed to export all they wanted to Great Britain, meat prices would have been lower in, comparison than butter prices. . The prices we are securing today are solely due to arrangements made at Ottawa until a better method of dealing with the difficulties of world trade can be evolved. I say to the farmers, stick to those agreements.'' The most important date in tho history of tho country would bo August 20, Mr. Poates added. On that day the British Government.would be free, if it 30 desired, to impose a quota on dairy products from all countries, including New Zealand, or to impose a levy. On the one hand the idea of restriction was. distasteful; yet on the other hand, so long.as the world's products could be dumped.in England, New Zealand would be subject to the evil of fluctuating prices. -New Zealand would have to decide whether it would agree to quantitative restriction or not. ♦ "the problem of the- farmer is a most difficult one, but the. Government is doing everything in its power to ensure .that he is giveir a 'fair spin,' " Mr. Coates concluded. ' • .